Prio Wealth Limited Partnership Lowers Stake in Caterpillar Inc. (NYSE:CAT)
Prio Wealth Limited Partnership reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,404 shares of the industrial products company’s stock after selling 1,639 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Caterpillar were worth $6,460,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CAT. Geode Capital Management LLC boosted its position in Caterpillar by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after purchasing an additional 321,277 shares during the last quarter. M Holdings Securities Inc. lifted its position in shares of Caterpillar by 16.4% during the 4th quarter. M Holdings Securities Inc. now owns 3,343 shares of the industrial products company’s stock valued at $425,000 after buying an additional 472 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Caterpillar by 8.0% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,777 shares of the industrial products company’s stock valued at $226,000 after buying an additional 132 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Caterpillar by 26.8% during the 4th quarter. Mutual Advisors LLC now owns 6,296 shares of the industrial products company’s stock valued at $800,000 after buying an additional 1,330 shares during the last quarter. Finally, First Allied Advisory Services Inc. lifted its position in shares of Caterpillar by 7.5% during the 4th quarter. First Allied Advisory Services Inc. now owns 27,744 shares of the industrial products company’s stock valued at $3,523,000 after buying an additional 1,934 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on CAT. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. Robert W. Baird began coverage on Cue Biopharma in a research report on Thursday, July 25th. They set an “outperform” rating and a $13.00 price target on the stock. UBS Group dropped their price target on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Wells Fargo & Co reaffirmed a “buy” rating and set a $125.00 price target on shares of Tractor Supply in a research report on Thursday, July 25th. Finally, Bank of America set a $152.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $144.72.
Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The business had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. Caterpillar’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.97 earnings per share. As a group, equities analysts forecast that Caterpillar Inc. will post 11.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.03 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, July 19th. Caterpillar’s dividend payout ratio is currently 36.72%.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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